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In the last few years there has been a significant increase in the population suffering from hearing problems. On account of the evolving technological environment, companies operating in the healthcare and medical technology industry are now scaling new peaks. Also, the respective sector’s growth is boosted by the rising number of health related issues emanating from the changing lifestyle and incessantly evolving surroundings. Hearing instruments industry is one such segment which witnessed enormous growth on account of the same. This has enabled millions of people suffering from hearing loss to lead a better life.

Hearing loss occurs when there is diminished sensitivity to the sounds normally heard. The term hearing impairment is usually reserved for people who have relative insensitivity to sound in the speech frequencies. The severity of hearing loss is categorized according to the increase in volume above the usual level necessary before the listener can detect it. There are three types of hearing loss: Conductive, Sensorineural and Mixed hearing loss. The hearing losses according to the severity are classified into four types: Mild, Moderate, Severe and Profound
hearing loss. The hearing loss is treated by hearing instruments which include two categories: Hearing Aid and Hearing Implant.

The present report offers a comprehensive analysis of the worldwide hearing instrument industry with a special focus on the regional markets including North America, US, APAC, EMEA and Korea. The competition in the global hearing instrument market is intense with few large players viz. Sonova, William Demant, Siemens, and GN ReSound. In addition, competitive landscape of VA market, retail market and NHS UK market along with the company profiles of the leading players in the market are discussed in detail.

The key trends observed within the industry include penetration rate of hearing aids, shift from ITE to BTE and reimbursement facilities. On the development front, there has been an advent of wireless and waterproof hearing instruments among others. But there are certain challenges which the industry is facing as of now. The major factors which will contribute in the growth of the respective industry include growing ageing population and growing worldwide economy among others.

By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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